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Kazakh sovereign fund raises forecast for 2016 average tenge rate
May 24, 2016 / 10:06 AM / a year ago

Kazakh sovereign fund raises forecast for 2016 average tenge rate

ASTANA, May 24 (Reuters) - Kazakh sovereign wealth fund Samruk Kazyna has raised its forecast for the average tenge exchange rate this year to 355 per dollar, the fund said in a research note on Tuesday.

In January, Samruk Kazyna forecast the average 2016 exchange rate at 380 per dollar under an optimistic scenario and 400 under the baseline one, but the currency has strengthened over the last four months alongside oil prices. (Reporting by Olzhas Auyezov; Editing by Dmitry Solovyov)

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